Stephen King, Professor of Economics at Monash University, writes about privatisation in The Conversation (25 June 2014), concluding: ‘The current round of privatisations is predictable and regular. Businesses move into and out of government ownership over time. Government ownership is only needed when there are strong conflicts between profit-incentives and public welfare. But if privatisation occurs without competition, then, as a nation, we only get a fraction of the benefit. The government will make more money but do not be fooled. It is just a future hidden tax as consumers pay for today’s increased government revenue through tomorrow’s higher prices.’
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